Applying the Lessons Learned from the Economics Nobel Prize 2020 to Land Use Right Auction in Vietnam

• Autorzy: Pham Ngoc Huong Quynk , Nguyen Thi Ngoc Mai

Identyfikatory

DOI

10.29227/IM-2021-02-

• Języki publikacji: EN

Abstrakty

EN

This paper mainly relies on qualitative research methodology and secondary data. The paper examines the existing legal framework for land use right auction in Vietnam and its practical implementation, focusing on acquiring agricultural land for non-agricultural purposes. It shows the limitations of sharing information and the disadvantages in distributing and balancing the benefits among different stakeholders who participated in the land use right auction. Also, this paper analyses and propounds the key lessons learned from the 2020 Economics Nobel Prize in creating the information sharing and benefit-sharing mechanism among participants. The paper applies these lessons learned from the 2020 Economics Nobel Prize to create a foundation for policy change the legal regulations of land use right auction in Vietnam in order to bring benefits to households, investors, and the State.

Słowa kluczowe

EN

lessons learned; Economics Nobel Prize 2020; Land use right auction; Vietnam

PL

Nagroda Nobla; Wietnam; metoda wyciągania wniosków; użytkowanie gruntów

• Wydawca: Polskie Towarzystwo Przeróbki Kopalin
• Czasopismo: Inżynieria Mineralna
• Rocznik: 2021
• Tom: no. 2
• Strony: 217--225
• Opis fizyczny: Bibliogr. 26 poz., tab., wykr.

Twórcy

autor

Pham Ngoc Huong Quynk

• VNU University of Economics and Business, Vietnam National University, Hanoi, Vietnam

autor

Nguyen Thi Ngoc Mai

• National Academy of Public Administration, Hanoi, Vietnam

Bibliografia

• 1. The Royal Swedish Academy of Sciences, 2020. Improvements to auction theory and inventions of new auction formats, The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel.
• 2. Nguyen, D.B., Research on renovating land management system to form and develop real estate market in Vietnam, National scientific research project, Hanoi, Vietnam, 2005.
• 3. Nguyen, N.D., 2013. Land use rights auction and specific recommendations for the draft amendments and supplements to the Land Law, Journal of Legislative Studies, 14(246): 137-146.
• 4. Ministry of Justice, Implementation of the Law on Property Auction from 2017, 2018, 2019 to 2020.
• 5. The Royal Swedish Academy of Sciences, 2020. The quest for the perfect auction, The prize in economic sciences.
• 6. Sonin, K.I., 2021. The principles of auction theory (Nobel Memorial Prize in Economic Sciences 2020), Voprosy Ekonomiki, 2021(1): 5-32, https://doi.org//10.32609/0042-8736-2021-1-5-32.
• 7. Hung-po, C., Shmuel, S.Oren, Robert, B.W., 2020. Beyond the 2020 Nobel prize for economic sciences, Energy Economics, 95(3): 105-120, https://doi.org/10.1016/j.eneco.2020.105020
• 8. Janssen, M.C.W., 2021. Reflections on the 2020 Nobel Memorial Prize Awarded to Paul Milgrom and Robert Wilson, Erasmus Journal for Philosophy and Economics, 13(2): 177–184, https://doi.org//10.23941/ejpe.v13i2.533
• 9. Ausubel, L.M., 2004. An Efficient Ascending-Bid Auction for Multiple Objects, American Economic Review, 94(5): 1452-1475, https://doi.org//10.1257/0002828043052330.
• 10. Kasberger, B., 2020. When Can Auctions Maximize Post-Auction Welfare?, SSRN, http://dx.doi.org/10.2139/ssrn.3519866.
• 11. Klemperer, P., 2002. What Really Matters in Auction Design, Journal of Economic Perspectives, 16(1): 169-189, https://doi.org//10.1257/0895330027166.
• 12. Milgrom, P., Mollner, J., 2018. Equilibrium selection in auctions and high stakes games. Econometrica, 86(1): 219-261, https://doi.org//10.3982/ECTA12536.
• 13. Cao, Z, Qiao, H, Yang, Z., 2020. Auction Theory and Design: A Review of the Contributions of the 2020 Nobel Prize Winners in Economics, Management Review, 2020, 32(10): 3-10, http://journal05.magtech.org.cn/jweb_glpl/EN/Y2020/V32/I10/3.
• 14. Government, Decree No. 17/2010/ND-CP dated 04/3/2010 of the Government on property auction, Hanoi, Vietnam, 2010.
• 15. Government, Decree 44/2014/ND-CP dated 15/05/2014 of the Government on land prices, Hanoi, Vietnam, 2014.
• 16. Government, Decree 01/2017/ND-CP dated 06/01/2017 of Government on Amending and supplementing a number of decrees detailing the implementation of the Land Law, Hanoi, Vietnam, 2017.
• 17. National Assembly, Land Law, Hanoi, Vietnam, 2003.
• 18. National Assembly, Land Law, Hanoi, Vietnam, 2013.
• 19. National Assembly, Law on Property Auction, Hanoi, Vietnam, 2017.
• 20. Prime Minister, Decision No. 216/2005/QD-TTg dated 31/8/2005 promulgating regulations on auction of land use rights.
• 21. Ministry of Natural Resources and Environment, Implementation of the Land Law 2013 on the period 2015-2020, Hanoi, Vietnam, 2021.
• 22. Ministry of Finance, Decision No. 22/2003/QD-BTC dated 18/02/2003 On the financial mechanism in the use of land fund to create capital for infrastructure construction, Hanoi, Vietnam, 2003.
• 23. Hanoi People’s Committee, Decisions on promulgating regulations on auction of land use rights to generate capital for infrastructure construction in Hanoi City in 2002, 2003, 2004, 2005, Decisions planning approval for land auction, decisions on land allocation, Hanoi, Vietnam, 2006.
• 24. Nguyen, T.T., Pham, N.H., Efficiency of land use right auction through some projects in Hanoi, Research project, Hanoi Agricultural University, Hanoi, Vietnam, 2018.
• 25. Nguyen, T.T., 2012. Auction of land use rights: A tool to deal with pressing land issues, Financial Magazine, 10(12): 54-61.
• 26. Dang, H.V., Dao, T.C., Nguyen, T.T., 2013. Evaluation of practical implementation of land acquisition, compensation, support, and resettlement in accordance with the law, Journal of Sciences and Development, 11(3): 328-336.

Uwagi

Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2021).